Funding for two of Ohio University’s prominent opportunity scholarships has dried up, leading to a decrease in awards and sending university leaders searching for money.
Although OU ideally offers 10 of each of its Appalachian and Urban scholarships to incoming freshmen, only one of each scholarship was awarded this year, said Brian Bridges, vice provost for Diversity, Access and Equity.
The primary reason for the decrease in the number of scholarships is the programs’ lack of endowed funding, which would pay for a student’s scholarship with the interest earned from a stable amount of invested money, Bridges said.
The Urban Scholarship, a full scholarship program begun by OU President Roderick McDavis in 2005, is designed to make college more affordable for inner-city students.
The Appalachian Scholarship — which started a year later — grants students from Ohio’s 29 Appalachian counties an opportunity to attend OU.
“When we can provide students in Appalachia with scholarship opportunities and students in urban areas with scholarship opportunities, it helps us recruit students in both Appalachia and urban areas, so it helps Ohio University,” McDavis said.
Both the Appalachian and Urban scholarships were initially funded by one-time donations, not endowments, meaning that much of the money has been spent and the funds have not been replenished.
In order to pay for the 40 Appalachian and 40 Urban scholarships annually, OU would need a $40 million base for each program, McDavis said.
He added that the scholarships would be a major focus for the remainder of OU’s capital campaign, which has raised $375 million toward its $450 million goal.
“Most of the money we’ve raised has gone into operating expenses; it hasn’t been endowed,” McDavis said. “We spent a lot of the operating money just keeping the program alive for now five or six years. That’s why our next challenge for both of the programs is to get endowed money.”
Cecil Walters, director of the Office for Multicultural Student Access and Retention, called the university’s actions “an extensive effort to shore up the scholarships.”
In addition to the base scholarships, both programs also involve a freshman orientation program and weekly roundtable meetings. These and other events, which are coordinated by the Office for Multicultural Student Access and Retention, are designed to help the scholarships’ recipients connect to the campus and create an academic support system, Bridges said.
“I think in the short term, there will be a reduced number for the next year or two,” Bridges said. “But I do feel confident that down the road, we’ll be able to reinvigorate the programs to bring 10 students each year to each program.”
